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Mortgage Bankers Association Releases Paper Detailing CFPB Reforms
Financial Regulation News, Mar. 13, 2019--Dave KovaleskiThe Mortgage Bankers Association released a report this week detailing changes it proposes to the Consumer Financial Protection Bureau. The paper, called The Roadmap to CFPB 2.0, seeks to ensure stability and consistent consumer protections in the CFPB's practices and rules.
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Weekly Mortgage Applications Hit a Record, But Not a Healthy One for Housing
CNBC, Mar. 13, 2019--Diana OlickTotal mortgage application volume rose 2.3 percent last week from the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Volume was essentially flat compared with the same week one year ago.
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If You’re Self-Employed or a ‘Gig’ Worker, Getting a Mortgage Just Got Easier
Washington Post, Mar. 13, 2019--Kenneth R. HarneyAs of last week, the two largest sources of mortgage money in the United States--investors Freddie Mac and Fannie Mae--have deployed remarkable new technology that automates underwriting for applicants who are self-employed or have significant side income.
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Paul Manafort Indicted by Manhattan Prosecutors in Mortgage Fraud Scheme
NBC News, Mar. 13, 2019--Tom WinterManafort, President Donald Trump's former campaign chairman, was indicted on 16 counts tied to residential mortgage fraud and conspiracy, according to the indictment unsealed Wednesday.
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Housing Finance Reform Bill Coming by 2020: Crapo
National Mortgage News, Mar. 13, 2019--Melissa Angell (subscription)The Senate Banking Committee is planning to tackle legislative reform of the government-sponsored enterprises in the current congressional term, said Chairman Mike Crapo, R-Idaho.
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This is How Much the U.S. Spent on housing Construction in January
HousingWire, Mar. 13, 2019--Alcynna LloydThe Census Bureau announced construction spending during January was estimated at a seasonally adjusted annual rate of $1.28 trillion, rising 1.3% from the revised December estimate of $1.26 trillion.
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House Lawmakers Still Divided on Flood Insurance Reforms
American Banker, Mar. 13, 2019--Hannah Lang (subscription)The House Financial Services Committee debated a package of legislation Wednesday to reform and reauthorize the National Flood Insurance Program, a program that both Republicans and Democrats agree needs substantial changes.
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